ProShare Advisors LLC Raises Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

ProShare Advisors LLC grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,539 shares of the company's stock after acquiring an additional 10,864 shares during the quarter. ProShare Advisors LLC's holdings in BridgeBio Pharma were worth $1,332,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its holdings in BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after buying an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma during the fourth quarter worth $41,000. Sterling Capital Management LLC grew its holdings in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares in the last quarter. First Bank & Trust bought a new stake in BridgeBio Pharma during the fourth quarter worth $205,000. Finally, Legato Capital Management LLC bought a new stake in BridgeBio Pharma during the fourth quarter worth $210,000. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock remained flat at $33.34 during trading on Tuesday. The stock had a trading volume of 316,567 shares, compared to its average volume of 2,436,658. The business has a 50 day simple moving average of $34.49 and a two-hundred day simple moving average of $31.96. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.54. The company has a market capitalization of $6.33 billion, a PE ratio of -11.70 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. During the same quarter in the previous year, the business earned ($0.20) earnings per share. BridgeBio Pharma's revenue was down 44.8% compared to the same quarter last year. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares of the company's stock, valued at approximately $634,841,604.16. The trade was a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total value of $2,505,000.00. Following the transaction, the chief executive officer now directly owns 4,798,447 shares in the company, valued at $160,268,129.80. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,392,182 shares of company stock worth $416,921,291 in the last ninety days. 18.20% of the stock is owned by insiders.

Analysts Set New Price Targets

BBIO has been the subject of several recent research reports. UBS Group upped their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Redburn Atlantic assumed coverage on BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 price target on the stock. Scotiabank upped their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Citigroup increased their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.